PCF GROUP S.A.: Rozliczenie kosztów produkcji gry „Bulletstorm VR” oraz rozwiązanie za porozumieniem stron umowy produkcyjno-wydawniczej na produkcję tej gry

Settlement of production costs of the “Bulletstorm VR” game and
termination by mutual understanding of the parties of the Development
and Publishing Agreement for the production of this gameArticle
17 Section 1 of the MARWith reference to current reports No.
46/2021 of 13 December 2021, No. 42/2023 of 22 August 2023 and No.
56/2023 of 17 November 2023, the Management Board of PCF Group S.A. with
its registered office in Warsaw (the “Company”, the “Issuer”) informs
that on 15 March 2024 it concluded with Incuvo S.A. with its registered
office in Katowice, a subsidiary of the Issuer (“Incuvo”), an agreement
to settle the remaining milestones in the production of the game
“Bulletstorm VR” covering the period until the game’s release on 18
January 2024. As part of the settlement and based on the provisions of
the development and publishing agreement, the Company, as publisher,
charged Incuvo with the cost of the development and quality control work
of the game performed by the Company for Incuvo in the amount of PLN
871,157.59 (eight hundred and seventy-one thousand one hundred and
fifty-seven zlotys and fifty-nine groszy).

At the same time, with the settlement of the development work, in view
of the unsatisfactory release of the game “Bulletstorm VR”, the parties
decided to terminate by mutual understanding the development and
publishing agreement for the production of the indicated game effective
19 January 2024 specifying that Incuvo shall not be eligible to
royalties from the sales generated from the game. Any further
development work on the game “Bulletstorm VR” will be carried out within
the framework of the production process, in which the Company will be
responsible for the production of the final product and its
commercialization, including marketing. The Company’s Management Board
allows the use of Incuvo resources for the implementation of the
above-mentioned works.

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